Author Topic: Money Sense  (Read 1922 times)

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Offline seoulbro

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Money Sense
« on: October 21, 2022, 05:35:06 PM »
Better than expected earnings this quarter will mask the pain to come for the markets in 2023. Central banks should immediately stop raising interest rates.
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Offline seoulbro

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Re: Money Sense
« Reply #1 on: October 21, 2022, 05:40:04 PM »
According to the Conference Board's leading economic indicators index, conditions worsened in September, with the gauge down 0.4 percent from the month before and off 2.8 percent for the six month period. This suggests a deeper recession is likely by year's end.
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Offline Oerdin

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Re: Money Sense
« Reply #2 on: October 21, 2022, 11:03:06 PM »
I bought $10,000 in I bonds for my self and an equal amount for my wife.  I will repeat that after January when I can get some more (each person can only get $10,000 per year).  Realestate and precious metals are usually also decent in high inflation periods.  Stocks are going down a further 20% according to Gdman Sacks.
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Offline Joe

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Re: Money Sense
« Reply #3 on: October 21, 2022, 11:19:26 PM »
Hmmm. Interesting info from
Both of you.
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Offline seoulbro

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Re: Money Sense
« Reply #4 on: October 22, 2022, 11:51:14 AM »
I bought $10,000 in I bonds for my self and an equal amount for my wife.  I will repeat that after January when I can get some more (each person can only get $10,000 per year).  Realestate and precious metals are usually also decent in high inflation periods.  Stocks are going down a further 20% according to Gdman Sacks.
Earnings will crater and so will companies' shares. The only way around that is if Central Banks reverse theor insane policy of raising interest rates when they know we are heading into a global recession.
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Offline Joe

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Re: Money Sense
« Reply #5 on: October 22, 2022, 04:29:34 PM »
Earnings will crater and so will companies' shares. The only way around that is if Central Banks reverse theor insane policy of raising interest rates when they know we are heading into a global recession.

So you're absolutely certain we're headed for a severe global recession?
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Offline seoulbro

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Re: Money Sense
« Reply #6 on: October 28, 2022, 08:31:13 AM »
Markets will do better in the final quarter as they usually do. The effects of reckless fiscal policy will be felt next year.
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Offline seoulbro

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Re: Money Sense
« Reply #7 on: October 28, 2022, 08:35:36 AM »
I am not sure where to put this, so I will park it here.

Top 20 per cent pay 61 per cent of Canada's income taxes, 'more than their share': study
'High-income families already pay a disproportionately large share of all Canadian taxes,' according to a new report from the Fraser Institute

Canada’s top income earners pay more than half of the total taxes collected by all levels of government, according to a new report from the Fraser Institute.

The report notes that increasing taxes on the wealthy is often pitched as a populist measure, with progressive politicians claiming the rich don’t pay their fair share, and that fiscal problems can be solved by boosting taxes on the wealthy.

In the last federal election, for example, Jagmeet Singh’s New Democrats proposed a special tax for those earning more than $10 million per year.

However, the report, which uses a tax simulation the Fraser Institute developed, says that the 20 per cent of Canadian families with an income of more than $227,486 actually pay 61.4 per cent of income taxes and 53 per cent of the country’s total taxes. That would include taxes such as payroll tax, sales tax and property tax.

“High-income families already pay a disproportionately large share of all Canadian taxes,” it says.

Jake Fuss, the associate director for fiscal studies at the Fraser Institute, said that there is the same number of Canadian families in each of the five income quintiles in the study.

“What we know is rhetoric surrounding this topic typically involves little discussion about actual facts about, you know, how much tax each income group is paying,” said Fuss.

The bottom 20 per cent of families that earn less than $56,516 pay just 0.8 per cent of income taxes and 2.1 per cent of total taxes.

The middle 60 per cent of income earners, making between $56,517 and $227,486, pay 37.8 per cent of Canada’s total income taxes, and 45 per cent of the nation’s total taxes.

The report also contrasts taxes paid with the share of the total income in Canada. That top quintile of income earners, making more than $227,486, are paying nearly two-thirds of Canada’s income taxes, but receive just under 45 per cent of the total income.

“Put differently, although this income group earns a large portion of total family income, it is paying more than its share of income taxes when measured on a proportional basis,” the report says.

Economists and policymakers will differ on what constitutes “fair” payment of taxes in proportion to income — should 30 per cent of income equal 30 per cent of tax, or something else? But the debates end up overlooking the distribution of taxes, Fuss said.

“Some policymakers don’t necessarily provide a definition for what they mean when we’re talking about fair share,” he said.

The discrepancy, the report notes, is partly due to Canada’s progressive tax system, where higher income earners pay a higher proportion of tax on their earnings. Those who earn $56,516 would pay a marginal federal tax rate of roughly 15 per cent, while those earning more than $227,486 would pay 33 per cent.

Trevor Tombe, an economist at the University of Calgary, said nothing in the report is all that surprising to economists and that higher earners paying more in tax is a deliberate part of the design of Canada’s tax system.

“One could view average taxes paid in uniform across all individuals as fair, one could also disagree with that and say that the average tax rate should … rise with income, but then the harder question is, well, how quickly should it rise with income?” said Tombe.

The report notes that high-income earners are likely to work harder to avoid paying taxes and engage in other avoidance mechanisms. It also argues that higher taxes reduce economic activity and this could have consequences.

“When governments raise or introduce new taxes, they reduce incentives for important economic activity, whether that’s entrepreneurship, investment in innovation, because the financial benefits from engaging in those activities are reduced,” said Fuss. “So it’s really important that we don’t use the tax system to penalize the activities that we need and want more of.”

The report concludes that there is still room to debate the appropriate design of Canada’s tax system, including progressivity, however, “the notion that top income earners do not pay their share of taxes rests on a shaky foundation and reflects a limited analysis of how people respond to taxes.”
https://nationalpost.com/news/politics/income-taxes-canada
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Offline lokmar

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Re: Money Sense
« Reply #8 on: October 28, 2022, 09:23:59 AM »
Its the same in America. Once my wife and I hit a combined income of more than $250K, we started to get ass raped HARD! Even though I claim zero and she only claims 2, we always have to pay the gubmints nearly $10K at the end of every year on top of the $70K we pay in income taxes. Its fucking criminal.

The only break you get is once you pay $85XX in SSI taxes, which happens when you make your first $165K roughly, you've topped out and get the rest of the year SSI tax free.
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Offline seoulbro

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Re: Money Sense
« Reply #9 on: October 28, 2022, 09:30:18 AM »
Its the same in America. Once my wife and I hit a combined income of more than $250K, we started to get ass raped HARD! Even though I claim zero and she only claims 2, we always have to pay the gubmints nearly $10K at the end of every year on top of the $70K we pay in income taxes. Its fucking criminal.

The only break you get is once you pay $85XX in SSI taxes, which happens when you make your first $165K roughly, you've topped out and get the rest of the year SSI tax free.
We had income splitting for couples here too under former PM Stephen Harper. Trudeau felt he deserved a bigger cut of family incomes.
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Offline seoulbro

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Re: Money Sense
« Reply #10 on: November 08, 2022, 07:24:43 AM »
2023 could be a good year for the stock market: The year after midterm elections has delivered stronger performance than other years regardless of the election outcome.
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Offline seoulbro

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Re: Money Sense
« Reply #11 on: November 08, 2022, 09:23:14 AM »
A Democratic upset today could destabilize markets further, especially the S&P.
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Offline lokmar

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Re: Money Sense
« Reply #12 on: November 09, 2022, 08:20:00 PM »
A Democratic upset today could destabilize markets further, especially the S&P.

I'm not positive, but it looks like the markets might be concerned that the brakes wont be applied to democRAT policies.
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Offline Herman

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Re: Money Sense
« Reply #13 on: November 09, 2022, 08:23:59 PM »
I'm not positive, but it looks like the markets might be concerned that the brakes wont be applied to democRAT policies.
Hell ya. The markets tanked big time.
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Prairie Redneck

Offline Joe

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Re: Money Sense
« Reply #14 on: November 09, 2022, 08:32:44 PM »
I'm not positive, but it looks like the markets might be concerned that the brakes wont be applied to democRAT policies.

The stock markets really took a dive today, eh Lokmeer?

I guess they an you were expectin' a Red Wave that didn't materlize, eh Bud?

If the Dems still end up controlling both Houses, won't be good news for investers, eh?
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Offline lokmar

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Re: Money Sense
« Reply #15 on: November 09, 2022, 08:44:52 PM »
The stock markets really took a dive today, eh Lokmeer?

I guess they an you were expectin' a Red Wave that didn't materlize, eh Bud?

If the Dems still end up controlling both Houses, won't be good news for investers, eh?

Nope. But it will be good for the destruction of America.
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Offline Joe

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Re: Money Sense
« Reply #16 on: November 09, 2022, 11:41:39 PM »
Nope. But it will be good for the destruction of America.

If I was you, I'd blame the women Lokmeer..

a lot of em voted fer the Democrats over the abortion issue, eh?

Anyways, not my country Bud.

Good luck eh Lokmeer.

Yer country needs ya
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Offline seoulbro

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Re: Money Sense
« Reply #17 on: November 10, 2022, 06:37:14 AM »
The CPI report comes out today. A drop from 82 percent inflation to 7.9 is what the markets have baked in. Higher that eight percent and stock values will not have a good day. Lower than 7.6 percent and most of Thursday's losses will be recovered.
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Offline lokmar

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Re: Money Sense
« Reply #18 on: November 10, 2022, 08:50:01 AM »
If I was you, I'd blame the women Lokmeer..

a lot of em voted fer the Democrats over the abortion issue, eh?

Anyways, not my country Bud.

Good luck eh Lokmeer.

Yer country needs ya

We should absolutely repeal the 19th Amendment. The only reason we have tolerance for faggits is idiot women. Bitches vote with their feels. That shit fucks logic in the asshole.
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Offline seoulbro

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Re: Money Sense
« Reply #19 on: November 11, 2022, 05:45:11 AM »
The consumer price index increased 0.4% for the month and 7.7% from a year ago, both lower than estimates. Markets soared on the report and Treasury yields tumbled.

Markets reacted sharply to the report, with the Dow Jones Industrial Average up more than 1,000 points. Treasury yields fell sharply, with the policy-sensitive 2-year note tumbling 0.3 percentage point to 4.33%.
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